R&D investments and firms performance -Evidence from Research Quotient (RQ)

• Main Authors: Kai-Hsin Hsieh, 謝凱欣
• Other Authors: Mei-jui Sun
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/kn25tq

碩士 === 銘傳大學 === 國際企業學系碩士班 === 101 === The study explores 163 listed information electronic firms in Taiwan which engage Research and Development (R&D) investments during the period from 2000 to 2012, compares the two R&D indicators, Research Quotient (RQ) and R&D Intensities, and examines their relationship with the firm performance. Furthermore, this study verifies that if the four features of information electronic firms (such as Export breadth, Technical breadth, Product diversification and Internal R&D) will enhance or decrease the relation between two R&D indicators and firm performance. In addition, this study also investigates that if there is a non-linear relation between two R&D indicators and firm market value. The results show that R&D Intensity has higher positive correlation to the firm performance than RQ. In respects of the moderator variables, only one of the four features, Internal R&D, has significant impact on RQ to enhance RQ’s positive relation to the firm performance-Tobin’s Q, other features do not have significant influence on RQ and R&D Intensity. In addition, R&D Intensity is significantly decrease firm’s market value when it reaches its limit.